Analysis

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4. 11. 2012

Commerce and Industry Minister Tawfiq Al-Rabiah yesterday opened a major workshop for the development of Saudi commercial attaches as part of the ministry’s efforts to promote trade and investment relations with foreign countries.

Saudi Arabia uses as much oil per person as America, largely to run oil-fired power plants to run domestic air conditioners. And the more of its oil siphoned off for such uses, the less cushion there is in the worlds oil supply. Thats a big problem now but is becoming less of one.

The 2nd US-Saudi Business Opportunities Forum in Atlanta in December brought together a high level delegation of over 200 Saudi officials and business people with over 1000 Americans to explore the $1 trillion-plus commercial openings available in the coming decade in the Kingdom.

Clinton will be in Saudi Arabia’s capital of Riyadh Friday and Saturday. There, she’ll meet with Saudi King Abdullah and participate in an event dedicated to the “strategic cooperation” between the U.S. and Gulf Arab states.

In his weekly piece for Arab News, Abdulateef Al-Mulhim takes a look at the extraordinary toll exacted on Saudi roads. With well-engineered roads and streets and access to the latest and safest automobiles, he says, Saudi Arabia still leads the world in highway fatalities.

Bank deposits rose for the fifth consecutive month in January, with demand deposits accounting for the entire rise to reach almost 60 percent of total bank deposits. Bank excess deposits at SAMA remained very high, giving scope for further lending growth.

According to Jadwa, “Non-oil exports hit a new all-time high in December owing to greater production of petrochemicals and plastics. Imports also jumped that month and data on letters of credit issued for imports suggest further rises are likely in the months ahead."